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PROJECT|Resources|Drilling
PROJECT|Resources|Drilling
project|resources|drilling

MinRes splashes big on Tabba Tabba owner Wildcat

1st November 2023

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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Lithium development company Wildcat Resources on Wednesday confirmed that Mineral Resources (MinRes) had bought a big chunk of shares in the company, owning nearly 20% of the total issued stock.

Diversified miner MinRes now holds 206.6-million Wildcat shares, with the majority of the stake (187-million shares) acquired in a block trade at a price of A$0.85 a share.

“The acquisition by Mineral Resources of this substantial shareholding provides independent validation of the potential of our Tabba Tabba lithium project and the ability to transform it into a tier-1 lithium asset,” said Wildcat chairperson Jeff Elliot.

The Tabba Tabba project, near Port Hedland, is not far from where MinRes has a 50% shareholding in the 259-million-tonne Wodgina lithium project.

Drilling is ongoing at Tabba Tabba with multiple rigs on site.

Shares in Wildcat rose by 7% on Wednesday, trading at A$0.76 a share.

Edited by Creamer Media Reporter

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